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☆ Morning Bid: A new R*
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Joshua RobertsA look at the day ahead in European and global markets from Wayne Cole. While it held rates at 3.5% as expected, the commentary warned that restrictive policy would be needed for a "considerable time". Indeed, it's looking like global supply chains will never be the same, what with the pandemic, the Russian-Ukraine war and Sino-U.S. tensions. Most developed nations also face a decline in working-age populations and sharply rising dependency ratios. All of which suggests higher inflation is here to stay and the neutral level of real interest rates has shifted upward.

A year from Russia's invasion of Ukraine, fracturing geopolitics seems to be rolling back world trade links and financial interdependence at speed. But global financial conditions - and the strength of the U.S. dollar as a proxy for that - may be playing a bigger part than the more dramatic political narrative lets on. "A stronger dollar tends to go hand in hand with tighter global financial conditions and more subdued supply chain activity." Compensating somewhat for dollar exchange rate strength over the decade were historically low real dollar borrowing rates. There's little doubt that the pandemic and the geopolitics surrounding Ukraine and Taiwan have been major potential disruptions to world trade by themselves.

☆ Cheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve Pagliuca
▼ + stars: | 2023-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve PagliucaSteve Pagliuca, Bain Capital senior advisor, and co-owner of the Boston Celtics, joins 'Squawk Box' to discuss dollar values normalizing, the strategic onshoring of US manufacturing, and the carbon transition.

☆ Gilman Hill's Jenny Harrington buys Skyworks Solutions, says chip stock is a 'compelling technology investment'
▼ + stars: | 2023-02-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Skyworks Solutions is one chip stock that traders should take another look at, according to investor Jenny Harrington. She said the stock appears compelling at current valuations. Additionally, the company is expected to grow its earnings significantly, making it a "compelling technology investment." Unlike some of its peers, Skyworks has its own manufacturing plants in the U.S. Still, Weiss, who previously held the stock, said he would wait to give Skyworks another look.

☆ US-China Tech War: How Money for Semiconductor Factories Costs Americans
▼ + stars: | 2023-01-19 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +15 min

If the first Cold War was defined by the development of nuclear weapons, this Tech Cold War is defined by the computer chip. The massive Intel plant in Ohio is a key part of the race with China for the future of tech. Even before the Intel plant, the Columbus area was well acquainted with these sorts of trade-offs. But, the Ohio State study found, Columbus' residential tax-abatement programs did little to meaningfully address the housing problem, while draining the city's funds. Federal, state, and local subsidies add up to billions of dollars that Intel is saving on its new Ohio semiconductor factory.

☆ The renewed 'Made in America' wave is going to make stuff like clothing and electronics more expensive
▼ + stars: | 2022-12-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

It's in response to the supply chains disruptions companies have faced in recent years. The headaches US corporations have faced are leading more of them to bring their supply chains closer to home and more under their control. Just under half (46%) said they were adjusting supply chains, and around a third (32%) said they were onshoring their workforce. But if more companies shift their supply chains closer to home, this could slowly begin to change. If reshoring companies have to raise wages to attract workers, they may decide to raise prices even further to protect their margins.

☆ Biden administration announces $2.5 billion loan to help GM and LG make EV batteries
▼ + stars: | 2022-12-12 | by ( Ella Nilsen | ) edition.cnn.com time to read: +2 min

CNN —The US Department of Energy’s Loan Programs Office will announce Monday that it is issuing a $2.5 billion loan to help start three lithium battery manufacturing hubs in Ohio, Tennessee and Michigan. The DOE loan programs office will loan the money to Ultium Cells LLC, a joint venture of General Motors and South Korean battery manufacturer LG Energy Solutions making batteries to power electric vehicles. In order to take advantage of a federal EV tax subsidy in the Inflation Reduction Act, electric vehicles and much of their battery components be sourced, processed and assembled in North America. LG Energy Solutions is also set to partner with Japanese automaker Honda on a $3.5 billion joint venture battery factory in southern Ohio. The Warren, Ohio, Ultium facility will be represented by the United Auto Workers, after the plant voted to unionize on Friday.

☆ Here's why we're overhauling our Bullpen watch list — adding five stocks and removing two
▼ + stars: | 2022-12-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +13 min

We're making several updates to our Bullpen watch list: adding five names, including Caterpillar (CAT), and removing two. Also, adding a stock to the Bullpen does not necessarily mean we would buy it at the current price. Let's go company by company to explain the reasons behind the additions and the removals. 5 stocks added to the Bullpen This aerospace and defense company was formed in 2020 through the combination of Raytheon Company and United Technologies Corporation's aerospace business. 2 stocks removed by the Bullpen We put Barrick Gold in the Bullpen back in March, thinking investors may seek out gold stocks as a safe haven during times of crisis.

☆ Wells Fargo names this solar stock a top pick, says its growth is 'recession proof'
▼ + stars: | 2022-12-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should load up on shares of Enphase Energy , even if a recession may be on the horizon, Wells Fargo said Wednesday. Analyst Praneeth Satish named the solar inverters maker a top pick, recommending that any weakness in the stock be used as a buying opportunity. The analyst has a price target of $344 per share on Enphase, implying upside of 11.1% from Tuesday's close. "ENPH's growth is essentially 'recession proof' with global ESG mandates driving secular demand for solar. While ENPH trades at a steep premium, we view this premium as warranted, as 2023-24 Consensus estimates appear too low," Satish said.

☆ Apple is ready to leave China as COVID-19 protests delay iPhones past Christmas. That could take a decade and cost billions.
▼ + stars: | 2022-12-07 | by ( Emilia David | ) www.businessinsider.com time to read: +6 min

China's "zero COVID" policy has hit Apple's supply chain, causing delays on iPhone production. But any shift out of China won't be quick, with over 35% of the factories supplying Apple located in China. Some estimates say it will take until the end of the decade to move 10% of Apple's iPhone manufacturing out of the country. There are 28 Apple suppliers in Vietnam, or 3.8% of the total listed by Apple. Onshoring iPhone production?

☆ Citadel's Ken Griffin warns the US economy will enter an immediate 'great depression' if China invades Taiwan and cuts off access to its semiconductor industry
▼ + stars: | 2022-11-16 | by ( ) www.businessinsider.com time to read: +2 min

Citadel founder Ken Griffin speaks at the CNBC Delivering Alpha conference in New York on September 28, 2022. CNBCThe US economy would immediately enter a great depression if China invades Taiwan, according to Citadel founder Ken Griffin. The US is "playing with fire" as it balances a sensitive relationship between China and Taiwan, according to Citadel founder Ken Griffin. In an interview with Bloomberg on Tuesday, Griffin said the US would enter an "immediate great depression" if China invades Taiwan and cuts off access to its semiconductor industry. But that concentrated bet could be a big loser if Griffin's bleak view on China and Taiwan ultimately pans out.

☆ Redwood Materials to supply cathode material to Panasonic U.S. battery plant
▼ + stars: | 2022-11-15 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

Nov 15 (Reuters) - Panasonic Corp (6752.T) will buy remanufactured battery cathode material from Redwood Materials, beginning in 2025, for the Japanese battery maker’s new Kansas plant, the companies said on Tuesday. Those targets are a focus of U.S. President Joe Biden's Inflation Reduction Act, which aims to build up a battery materials supply base in North America. “The IRA just accelerated this entire transition” of the battery supply chain, Redwood Materials Chief Executive J.B. Straubel said in an interview. He expects the company to be the first to produce cathode material at volume in North America. Redwood recycles Panasonic scrap materials from that factory, and has an agreement to supply Panasonic at the Nevada plant with remanufactured anode copper foil.

☆ These 3 'megatrends' will help investors get the income they need and profit from inflation, according to investing giant Franklin Templeton
▼ + stars: | 2022-11-10 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Private real estateThanh Bui, a portfolio manager at Franklin Templeton's private real estate investment unit Clarion Partners, said that it's becoming easier for retail investors to get access to high-quality private real estate. She says the space generally does well when inflation is high, and that private real estate is an effective portfolio diversifier not strongly correlated to stocks, bonds, or public real estate companies. Bui is especially positive on muti-family real estate because there is a huge supply shortage that won't be resolved any time soon. She's also bullish on industrial real estate, where rents are surging because of high demand from e-commerce companies and onshoring. "We view the dividend profile as a way to look at quality of a company.

☆ Nearshoring represents 'a lifetime opportunity' to invest in Mexico, BofA says. How to play it
▼ + stars: | 2022-11-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +5 min

This has already led to a manufacturing surge in Mexico and represents "a lifetime opportunity" to invest in Latin America's second-largest economy, according to Bank of America. "Nearshoring represents Mexico's best growth opportunity for the next 10 years and it is already occurring," Bank of America's Capistran said. The EWW is up 1.9% in 2022, easily outperforming the S & P 500. All five of those stocks are outperforming the S & P 500 this year, with FirstCash jumping nearly 30% and Sanmina popping 38%. PriceSmart and Ingredion are down 6.4% and 8.2%, respectively, in 2022, but that's still better than the S & P 500's 19% drop for the year.

☆ GlobalFoundries IPO anniversary sends shares surging 20%
▼ + stars: | 2022-10-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobalFoundries IPO anniversary sends shares surging 20%Thomas Caufield, CEO of semi manufacturer GlobalFoundries, joins 'Power Lunch' to discuss performance indicators, financing plans for expansion in the U.S., the economic security that comes with onshoring chip manufacturing.

☆ The fate of the world economy may depend on what happens to a company most Americans have never heard of
▼ + stars: | 2022-10-22 | by ( Avery Hartmans | Jacob Zinkula | ) www.businessinsider.com time to read: +13 min

The fate of the global economy may rest on the shoulders of one company: TSMC. That's because there could be trillions of dollars' worth of economic activity tied to that one company: Taiwan Semiconductor Manufacturing Company, the world's biggest chipmaker. Ann Wang/ReutersThe semiconductor industry has its roots in the US, as much of the research and development is done on US soil. According to a 2021 report from the Semiconductor Industry Association, in 1990 the US produced 37% of the world's chip supply. These days, the US is responsible for only 12% of global chip production.

☆ Watch CNBC full interview with Mizuho's Vijay Rakesh and Needham's Rajvindra Gill
▼ + stars: | 2022-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC full interview with Mizuho's Vijay Rakesh and Needham's Rajvindra GillVijay Rakesh, Mizuho Securities managing director, and Rajvindra Gill, Needham managing director, join 'Squawk on the Street' to discuss chip stocks, onshoring manufacturing, and the timeline for inventory correction.

☆ Memory OEMs positioned to be winners in the long term, says Mizuho's Vijay Rakesh
▼ + stars: | 2022-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMemory OEMs positioned to be winners in the long term, says Mizuho's Vijay RakeshVijay Rakesh, Mizuho Securities managing director, and Rajvindra Gill, Needham managing director, join 'Squawk on the Street' to discuss chip stocks, onshoring manufacturing, and the timeline for inventory correction.

☆ Britain's intervention did nothing to solve inflation or ensure earnings growth
▼ + stars: | 2022-09-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

But are inflation and earnings the only worries? "We view the real fear as decaying faith in central banks' ability to negotiate these trying times (and, quite frankly, the smell of desperation)." "For a more sustained rally, investors will need to see convincing evidence that inflation is coming under control, allowing central banks to become less hawkish." Inside the Fed, it's always been the central bank's favorite inflation gauge. "...Clients have indicated they would prefer stable 3-4% inflation and no recession over a 2% inflation rate with recession."

Updated projections from the Fed's Sept. 20-21 policy meeting show that rate-setters' outlook for the economy's equilibrium rate of interest rate over time remained 2.5%. Bearing in mind that the Fed's inflation target is 2.0%, this suggests that the real rate of interest - r-star (r*), the nebulous, inflation-adjusted interest rate that neither fuels nor curbs growth - is also unchanged at 0.5%. The fact it didn't suggests the Fed still sees sky-high inflation as ultimately 'transitory', albeit as a result of its punishing interest rate rises and more prolonged than it had previously anticipated. chartNEBULOUS RATEThe Fed's policy target rate is now 3.00%-3.25%, the highest since 2008, and the Fed's latest projections show it rising to the 4.25%-4.50% range by the end of this year and ending 2023 at 4.50%-4.75%. Steven Englander, head of FX strategy at Standard Chartered, suggests the neutral rate is perhaps 3.00%, maybe even higher.

☆ A robot named Baxter wanted to change the world of work, but his career ended early
▼ + stars: | 2022-09-01 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +12 min

Rethink Robotics was founded in 2008 with the idea that a cobot — a robot working alongside humans in ways that traditional automation couldn't (i.e. "There is no such thing as the cobot without Rod Brooks," Beane said. "No one needs a two-armed robot," Beane said, describing that design decision as "humans projecting onto a robot their own physical form." The opportunity for robotics technology remains significant, though it is still trailing other automation approaches in market penetration. "Manufacturing is about high throughput and high consistency and you can automate the heck out of it without a cobot," Beane said.

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